Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT Audit :: articles on VAT and GST in India :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ACCOUNTING STANDARDS
 
 
News Headlines »
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds
 Income Tax department to launch mobile app to make life easy for taxpayers
 6 things to remember while filing your income tax return
 Want to save on tax? Here are deductions you can use while filing ITR
 July 31 Is Last Date For Filing Tax Return. Why Form 26AS Has To Be Checked

Govt forms unit for tax administration reform
February, 04th 2016

To bring in coherence in tax policy, the government on Tuesday announced the constitution of a common tax policy unit that will take a holistic view of direct and indirect tax policies besides determining the negative side-effects of tax decisions.

The announcement is the first step in reforming tax administration as suggested by the tax administration reforms commission (TARC) headed by Parthasarathi Shome.

In its statement, the finance ministry announced the constitution of a tax policy council headed by the finance minister as well as a tax policy research unit.

While the tax council, advisory in nature, will suggest broad policy measures for taxation, the tax policy research unit will study various tax and fiscal policies, liaise with state commercial tax departments and assist the tax policy council in decision-making. It will also elaborate the legislative intent behind specific proposals, their impact on tax collections, as well as the likely economic impact of the proposals.

Besides the finance minister, members of the tax policy council include the minister of state for finance, commerce and industry ministers, chief economic advisor as well as secretary-level officers from the ministries of finance and commerce and a NITI Aayog representative.

The tax policy research unit will have members from both the Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) as well as economists, statisticians, operational researchers and legal experts, the statement said.

The unit will be headed by an officer of the level of chief commissioner, alternately from the CBDT and CBEC, for a fixed tenure, who will directly report to the revenue secretary.

TARC had stressed the need to bring consistency, multidisciplinary inputs and coherence in policymaking and suggested a common tax policy unit to cater to the needs of both direct and indirect taxes. TARC was constituted by the previous Congress-led United Progressive Alliance government and submitted its first report in 2014.

Sunil Shah, partner, Deloitte Haskins and Sells LLP, said in a note, “These steps will enable the government to take an integrated view of direct and indirect taxes and obtain inputs from a broad spectrum of professionals. This will help in the formulation of balanced and forward-looking tax policies.”

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions